Cannes, 15 March 2016 – Building Real Estate in Germany – Match up your investment!
Karsten Trompetter, Trompetter Immobilien (left); Richard Apfelbacher, L’Etoile Properties ; Gregor Drexler, CA Immo ; Dusseldorf Mayor Thomas Geisel ; Gereon Kohlgruber, AEW Europe ; and Markus Terboven, Gewobag Wohnungsbau-Aktiengesellschaft
The Weight of recent immigration into Germany has added to the already pressing need for an accelerated house-building programme, as German’s cities prepare to grow significantly in size, attendees at the Building Real Estate in Germany Conference heard yesterday. Markus Terboven, board member at Gebowag Wohnungsbau-Aktingesellchaft, said that in Berlin six major house builders had been asked by the Berlin authorities to deliver around 60,000 apartments in the next decade, representing an investment of around €2bn each. He said that this requirement was based on a plan before the recent influx of immigration which meant that the need for new homes was now even more pressing. It was a view echoed by Dusseldorf Mayor Thomas Geisel, who added: “We must look at increasing the density of residential development in our cities to keep up with the demand”. Richard Apfelbacher, managing partner and head of operation, L’Etoile Properties, which more than doubled its managed real estate portfolio in Germany in the 12 months to the end of 2015, pointed to the diversified nature of Germany, which has seven major cities, all of which face similar expansion challenges. And this was an issue picked up by Gereon Kohlgruber, head of investments, Germany, AEW Europe, who said: “Germany is very decentralised and this makes a big difference. To invent and develop in Germany you need people on the ground in each market”.